Art-of-FX
Short

GBPJPY short on wedge

FX:GBPJPY   British Pound / Japanese Yen
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6
Im reposting this chart, because for some reason I was unable to update my last GBPJPY chart which is imperative to keep people up to date. Simple wedge , hovering around the 38.2, I took on short on the overthrow but have closed it out and am now waiting to see if we get a break where I will resume shorting for another fall.
Comment: Still awaiting, its broken up some, can redraw the wedge many ways. Just have to see some conviction on a down move to trigger.
Comment: Just had a bearish 4 hour candle. I think maybe a little push up and then some downside, ill still await confirmation
Comment: Well this is why we wait for clean breaks and retests, the ghood news is we havent lost anything. I will watch around the 61.8 fib for any more signs of downside, but for now this idea is closed for me. I will re analyze a little bit later
Comment: Have some stalling around the 61.8 here, it hasnt had a hard rejection enough for me to sell right away, eyes will remain open on this afterall

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